When valuing and considering to buy an online company - In general, do buyers think in-house software is a plus or minus?
IMO it depends, I have been on both sides and generally in-house software is a big plus if you are developing something which derives the company's business, instead of just an efficiency tool it also possibly generates a revenue stream. For a quality SW you will end up investing a lot of money but in long term, I can pay off. This is usually an easier decision for cash loaded organization that can absorb the risk. Now let's think about the other side , if there is not a huge competitive advantage and you are looking for parity, in most cases it makes sense to either outsource or buy existing SW. Hope this helps . Reach out to me at https://clarity.fm/jatinverma , happy to share my experiences on both sides.